The Corporate Affairs Commission (CAC) has introduced new mandatory business name update requirements that will now apply to all individuals and businesses submitting online applications on its portal. This move comes as the Commission intensifies efforts to strengthen verification processes, reduce identity fraud, and improve the overall integrity of Nigeria’s business documentation system.

Over the past year, the CAC has been rolling out reforms targeted at enhancing transparency and closing loopholes that have enabled impersonation, document falsification, and misuse of business registrations. The latest regulation marks a significant tightening of compliance expectations for entrepreneurs, business owners, and corporate service providers.

What the New CAC Requirements Mean

Under the new rules, applicants must update their business name profiles with accurate personal information before they can proceed with any online transactions on the CAC portal. These updates include:

• Full legal name as seen on government-issued ID
• Phone number and email address
• Residential and business addresses
• Next-of-kin information
• Valid means of identification (NIN, voter’s card, international passport, etc.)

The system will automatically restrict portal activities for users who fail to complete the new verification steps.

Why CAC Introduced the New Verification Process

According to recent regulatory actions, the new update requirement is intended to:

• Strengthen identity verification
• Curb business-related fraud and impersonation
• Ensure all businesses have traceable owners
• Improve documentation integrity under the Companies and Allied Matters Act (CAMA)
• Enhance legal compliance and reduce regulatory disputes

The Commission has repeatedly emphasized that accurate record-keeping is critical for Nigeria’s formal business sector, especially as digital registration becomes the standard.

Impact on Business Owners, SMEs, and Agents

For entrepreneurs and SMEs, these new rules mean that:

• All pending applications may experience delays if personal details are incomplete
• Business owners must ensure that all information matches their government-issued identification
• Agents and accredited consultants must verify clients’ data before submission
• Businesses using outdated or incorrect contact details risk suspension from portal activities

These requirements apply to business names, limited liability companies, incorporated trustees, and all other categories registered with the CAC.

What to Do to Stay Compliant

To avoid disruptions, business owners should:

• Log into the CAC portal immediately
• Update all required personal and business details
• Ensure uploaded documents are clear and valid
• Confirm that contact details match those on their official ID
• Save or print acknowledgement receipts after updating

Those with inconsistent records may need to file for corrections or provide additional verification documents.